ITAT held that Income Tax reassessment initiated on the basis of borrowed satisfaction without any independent application of mind by Assessing Officer is liable to be quashed.
ACIT Vs Precision Realtors P. Ltd. (ITAT Delhi) A perusal of the sale deed show that the seller was the absolute owner and was in actual possession of the impugned property. Nowhere in the sale deed, there is a mention of encumbrance / encroachment in the impugned property. This fact has been completely ignored by […]
Anand And Anand appeal success against ACIT order. ITAT Delhi ruling on TDS provisions. Key legal insights by Anand Bhattacharya, tax expert.
Bhartiya City Developers Pvt. Ltd Vs Addl. CIT (ITAT Delhi) A conspectus of Explanation-1 to Section 271(1)(c) of the Act, makes it clear that the statute visualizes the assessment proceedings and penalty proceedings to be wholly distinct and independent of each other. While the Assessing Officer may be justified in making estimated disallowance in quantum […]
Addl. CIT Vs Mayur Batra (ITAT Delhi) When the taxable income of the tax-payer has to be computed on the basis of partial information in Return and remaining on queries put by the Ld AO during assessment, then in the next place the sum payable by assessee, on the basis of such computation has to […]
ACIT Vs AVA landmark LLP (ITAT Delhi) The capital assets held by erstwhile company transferred to assessee as LLP were considered as transfer and the Assessing officer made addition of Rs.11,37,40,244/- to the return income on allegation of non-compliance of Section 47(xiiib) of the Act. However, the Ld. CIT(A) observed that there is no violation […]
Shri Abdul Hakeem Vs ITO (ITAT Delhi) ITAT notice that the assessee has filed the appeal belatedly where the number of days delayed has not been specified. The delay in our understanding is about 14 months 10 days. No explanation worth the name has been provided to justify the delay. It is trite that the […]
The tide up grants for a specific purpose would only mean that the assessee which was voluntarily organization, had agree to act as a trustee of a special fund granted by the donor with the result that it need not be pooled or integrated with the assessee is normal income or corpus.
ITAT Delhi held that amendment to section 36(1)(va) are effective from 1st April 2021 and hence disallowance of employees’ contribution to EPF and ESI paid before due date of filing return of income is unsustainable
TDS credit was allowed as the commission income was not managerial service under India Germany Double Taxation Avoidance Agreement (DTAA).
